Laserfiche WebLink
<br />I~ <br /> <br />the city that wor*8 lor you <br /> <br />Re ort Number: <br />A enda Section: <br />Re ort Date <br />Council Meetin <br /> <br /> <br />REQUEST FOR COUNCIL CONSIDERATION <br /> <br />ITEM DESCRIPTION: Consideration of Request for Qualifications Process for Northwest <br />Quadrant Office Development. <br /> <br />DEPARTMENT HEAD'S APPROVAL: Grant Femelius, Community Development Director BF- <br />CITY MANAGER'S APPROVAL: <br /> <br />No comments to su lement this re 0 <br /> <br /> <br />Comments attached <br /> <br />Recommendation: <br /> <br />Approve the attached Request for Qualifications and authorize staff to solicit interest within the <br />Twin Cities development community. <br /> <br />Legislative History: <br /> <br />Northwest Quadrant Framework approved June 28, 2005 <br />Northwest Quadrant Design Guidelines approved December 13,2005 <br /> <br />Financial Impact: <br /> <br />Office development is a key portion of the Northwest Quadrant Framework Plan. Successful <br />attraction of office development is necessary to repay previously incurred City costs. <br /> <br />Explanation: <br /> <br />Developers are solicited for each of four office sites, one on the west side of Old Highway 8 <br />(former bowling alley) and the other three on the east side, between the freeways and the ring <br />road, to be constructed. Planning is underway for remediation of most of the dump area on the <br />east side in 2006. Office sites will be ready for development in 2007. <br /> <br />We have learned from several sources that the Twin Cities office market is starting to rebound, <br />as the economy improves and companies hire more workers. Staffhas already been approached <br />by several parties, despite no specific solicitation efforts. This is a significant component of our <br />projections, with over $45 million of market value. The largest component is expected to be a <br />site for a single corporation, totaling about 220,000 square feet. <br /> <br />Staff is suggesting a two-step process. The Request for Qualifications would be sent out to a <br />wide audience and advertised. The responses will be relatively easy, not requiring intensive <br />study ofthe site(s). The best submissions (recommended by the EDC and approved by the <br /> <br />H:IRFQ-2,doc <br />